The global Petroleum Coke Market was reached USD 22.79 billion in 2020 and it is projected to reach USD 29.47 billion in 2024, expanding at a CAGR of 6.5% between 2020 and 2024.
The key players in the Petroleum Coke market include Essar Oil, Chevron Corporation, Saudi Arabian Oil Company, ExxonMobil, British Petroleum, Marathon Petroleum Corporation, Valero Energy Corporation, Reliance Industries, Royal Dutch Shell, and Trammo, Inc.
News- Oct 2020 Assam based Numaligarh Refinery Limited's (NRL) product, the company signed an MoU with aluminum giant NALCO NSE 1.81 % for long term supply of Calcined Petroleum Coke (CPC) for a period of 5 years with an annual estimated sale of 40,000 MT. NRL produces around 70 - 75 Thousand Metric Tonnes (TMT) of CPC per annum by processing Raw Petroleum Coke generated in the refining process. The CPC produced by NRL is of anode grade quality with sulphur content less than 3.0%. CPC will be dispatched from NRL’s Marketing Terminal at Numaligarh in Assam to NALCO’s Smelter Plant at Angul in Odisha by Railway rake.
Aug 2020-Firmness in global petroleum coke prices has bolstered industrial demand for seaborne coal in Asia-Pacific, and the trend could expand to other regions should coal continue to hold competitiveness. The two fuels typically compete for industrial users, mainly cement makers, but also in other sectors such as iron and steel. But the fundamentals of each commodity have moved in opposite directions, working to coal's advantage. Coal supplies remain abundant amid high stocks, and as supply could not adjust to the weaker demand environment in the second quarter because of the Covid-19 slowdown.
The government has laid out a detailed procedure for allocation of quota for import of calcined pet coke to be used in the aluminum industry for the financial year 2020-21. Procedure for allocation of quota for import of calcined pet coke for use as calcined pet coke (CPC) in aluminum industry and raw pet coke for CPC manufacturing industry for the year 2020-21 is notified.
Saudi Aramco Jan 2020 hosted the opening ceremony of the International Petroleum Technology Conference (IPTC), the leading international oil and gas conference taking place from January 13-15 in Dhahran, Saudi Arabia. Held under the patronage of HRH Crown Prince Mohammed Bin Salman, the 12th edition of this leading international oil and gas conference is being held for the first time in Saudi Arabia.
BP - Jun 2020 announced that it has agreed to sell its global petrochemicals business to INEOS for a total consideration of $5 billion, subject to customary adjustments. The agreed sale, the next strategic step in reinventing bp, will further strengthen bp’s balance sheet and delivers its target for agreed divestments a year earlier than originally scheduled. Under the terms of the agreement, INEOS will pay bp a deposit of $400 million and will pay a further $3.6 billion on completion. An additional $1 billion will be deferred and paid in three separate instalments of $100 million in March, April and May 2021 with the remaining $700 million payable by the end of June 2021. Subject to regulatory and other approvals, the transaction is expected to complete by the end of 2020.
Petroleum Coke Market by Type includes (Fuel Grade and Calcined Coke) and Application it consist of (Aluminum & Other Metals, Cement, Storage, Steel, Power, and Others). By region it splits (North America, Europe, Asia-Pacific and Row). Asia Pacific dominated the petroleum coke market and is expected to remain the largest regional market in terms of demand in the near future. In the Asia-Pacific countries are some of the factors that are driving the growth of the petroleum coke market to a significant extent. Besides the advantages of petroleum coke, there is a disadvantage for petroleum coke that it has an adverse effect on the environment and human health, which in turn is restraining the growth of the petroleum coke market. Petroleum coke has high sulfur and low volatile content, causing environmental problems during combustion.
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